Crux offers a managed or SaaS service for quickly building and maintaining data pipelines from external data sources. Currently geared to financial services.
Founded in 2017, Crux is laser-focused on the buy side of the data commerce market. It addresses the data integration pain that customers experience when working with thousands of data sets from dozens or hundreds of third-party data suppliers. Crux offers both a 24×7 managed service and a new, self-service SaaS product that together accelerate the creation of data pipelines that integrate external data with customer data warehouses, data lakes, and reports. Crux offloads this nitty gritty work from data engineers, freeing them to focus on other data issues and initiatives. Crux currently manages 50,000 data pipelines on behalf of customers.
Crux is currently geared to financial services firms, including hedge funds, investment banks, and asset managers, which consume large volumes of external data from numerous third-party data brokers, such as Morningstar, Moody’s, and FactSet. Crux models these data sources so they can be quickly onboarded and integrated with existing customer data. Crux plans to branch out to other industries, including insurance, real estate, and supply chain. Crux has 120 employees and is well funded with $166 million in Series B financing.
Unlike other players in the market, Crux does not facilitate commercial transactions between data buyers and sellers. Rather, it helps data buyers integrate datasets they’ve already purchased. In essence, Crux functions as an extension of a company’s internal data engineering team focused exclusively on external data integration. Besides financial services firms, data marketplace vendors, such as Google Cloud Marketplace, use Crux as a back-end data ingestion engine.
Customers can choose from a suite of data engineering services. For example, Crux Deliver ingests and integrates data from 265+ sources using custom connectors and creates a custom, AI-driven catalog of external datasets; Crux Verify performs validation checks on incoming data to identify data quality issues, anomalies, data drift, and schema changes; Crux Wrangle enriches, validates, combines, and transforms source data to match the format and schema of the customer’s target system.